New York | Any hopes that falling borrowing costs would stem the pain from the US office downturn were swept away last week.

Deutsche Bank set aside more money for souring US commercial real estate loans, while a Blackstone mortgage trust slashed its dividend. New York Community Bancorp’s shares then plunged the most since the last bout of CRE-related turmoil in March after provisions for losses came in at more than double the average expected by analysts.

Bloomberg